CarGurus chair converts Class B to Class A shares
CarGurus, Inc. Executive Chair Langley Steinert reported conversions of Class B Common Stock into Class A Common Stock.
Rhea-AI Filing Summary
CarGurus, Inc. Executive Chair Langley Steinert reported conversions of Class B Common Stock into Class A Common Stock. On June 9, 2026, 377,639 directly held Class B shares and 74,998 indirectly held Class B shares were converted into an equal number of Class A shares at a price of $0.00 per share.
Following the transactions, Steinert directly holds 909,790 Class A shares and 12,144,424 Class B shares. Indirectly, 75,000 Class A shares and 1,618,021 Class B shares are held through The Langley Steinert Irrevocable Family Trust, for which he disclaims beneficial ownership.
Positive
- None.
Negative
- None.
Insider Trade Summary
452,637 shares exercised/converted
Exercise
4 txns
Insider
Steinert Langley
Role
Executive Chair
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Conversion | Class B Common Stock | 377,639 | $0.00 | $0.00 |
| Conversion | Class B Common Stock | 74,998 | $0.00 | $0.00 |
| Conversion | Class A Common Stock | 377,639 | $0.00 | $0.00 |
| Conversion | Class A Common Stock | 74,998 | $0.00 | $0.00 |
Holdings After Transaction:
Class B Common Stock — 12,144,424 contracts (Direct);
Class B Common Stock — 1,618,021 contracts (Indirect, See Footnote);
Class A Common Stock — 909,790 shares (Direct);
Class A Common Stock — 75,000 shares (Indirect, See Footnote)
Footnotes (3)
- F1. Represents the conversion of Class B Common Stock into Class A Common Stock at the Reporting Person's election.
- F2. These shares are owned directly by The Langley Steinert Irrevocable Family Trust dated June 21, 2004, of which the Reporting Person's children are the beneficiaries. The Reporting Person may be deemed to have indirect ownership over such shares, but expressly disclaims beneficial ownership of such shares.
- F3. Each share of Class B Common Stock has no expiration date and is convertible into one share of Class A Common Stock at the option of the Reporting Person or automatically either upon the transfer of such share of Class B Common Stock, except for certain transfers described in the Issuer's amended and restated certificate of incorporation, or upon the date falling after the first to occur of the death of Langley Steinert, Langley Steinert's voluntary termination of all employment with the Issuer and service on the Issuer's board of directors or the sum of the number of shares of the Issuer's capital stock held by Langley Steinert and any Family Member or Permitted Entity of Langley Steinert (as such terms are defined in the Issuer's amended and restated certificate of incorporation), assuming the exercise and settlement in full of all outstanding options and convertible securities and calculated on an as-converted to Class A Common Stock basis, being less than 9,091,484 shares.
Key Figures
Direct Class B converted: 377,639 shares
Indirect Class B converted: 74,998 shares
Direct Class A after conversion: 909,790 shares
+5 more
8 metrics
Direct Class B converted
377,639 shares
Class B to Class A conversion on June 9, 2026
Indirect Class B converted
74,998 shares
Trust-held Class B to Class A conversion on June 9, 2026
Direct Class A after conversion
909,790 shares
Total directly held Class A Common Stock following transactions
Indirect Class A after conversion
75,000 shares
Trust-held Class A Common Stock following transactions
Direct Class B remaining
12,144,424 shares
Direct Class B Common Stock after conversions
Indirect Class B remaining
1,618,021 shares
Trust-held Class B Common Stock after conversions
Converted shares total
452,637 shares
ExerciseShares from transactionSummary for derivative conversions
Conversion price
$0.00 per share
Stated transaction price for Class B to Class A conversions
Key Terms
Class B Common Stock, Class A Common Stock, conversion of derivative security, beneficial ownership, +2 more
6 terms
Class B Common Stock financial
"Represents the conversion of Class B Common Stock into Class A Common Stock at the Reporting Person's election."
A class B common stock is one of multiple types of a company’s ordinary shares that carries specific rights—often different voting power or dividend priority—compared with other classes. For investors it matters because those differences affect how much influence you have over company decisions, the income you might receive, and how freely the shares trade; think of it like owning a car with different keys: some keys let you start the engine and open the trunk, others only unlock the door.
Class A Common Stock financial
"Represents the conversion of Class B Common Stock into Class A Common Stock at the Reporting Person's election."
Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.
conversion of derivative security financial
"transaction_code_description: Conversion of derivative security"
beneficial ownership financial
"The Reporting Person may be deemed to have indirect ownership over such shares, but expressly disclaims beneficial ownership of such shares."
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
irrevocable family trust financial
"These shares are owned directly by The Langley Steinert Irrevocable Family Trust dated June 21, 2004, of which the Reporting Person's children are the beneficiaries."
amended and restated certificate of incorporation regulatory
"described in the Issuer's amended and restated certificate of incorporation, or upon the date falling after the first to occur"
A company’s amended and restated certificate of incorporation is an updated version of its foundational legal charter that replaces the older document and folds in all changes into one clear copy; it spells out corporate structure, classes of stock, shareholder rights and key governance rules. Investors care because it can change who controls the company, how votes are counted, what claims shareholders have on assets or dividends, and can introduce or remove protections against takeovers—like updating a house title after a major renovation to show who owns what and under what rules.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did CarGurus (CARG) report for Langley Steinert?
CarGurus reported share class conversions, not open-market trades, for Executive Chair Langley Steinert. He converted 377,639 directly held Class B shares and 74,998 indirectly held Class B shares into the same number of Class A shares at a stated price of $0.00 per share.
What happened to Langley Steinert’s Class B Common Stock in this CarGurus filing?
Portions of Steinert’s Class B Common Stock were converted into Class A Common Stock. He converted 377,639 directly held and 74,998 indirectly held Class B shares, while retaining 12,144,424 Class B shares directly and 1,618,021 Class B shares indirectly following the transactions.
AI-generated analysis. How Rhea-AI works. Not financial advice.
